Creation, acquisition, renovation, management, rental, leasing and sale of real estate and land of all kinds, as well as provision of related services. May establish branches and subsidiaries in Switzerland and abroad, participate in other companies in Switzerland and abroad, conduct all business directly or indirectly related to its purpose, acquire, encumber, sell and manage real estate in Switzerland and abroad, further provide financing for its own account or for third-party account, and grant guarantees and sureties for subsidiaries and third parties.